Raffles Residences Coconut Grove Proposed at 2545 S Bayshore Dr

Mast Capital and BH Group have proposed Raffles Residences Coconut Grove, a 35-unit waterfront condominium at 2545 South Bayshore Drive. Plans call for an 8-story building, with completion targeted for 2029. Brandon Haw Architecture is designing the project, with interiors by Banda Studio and landscape by Enea.

It is the first standalone Raffles residential development in the brand's 139-year history, with no hotel component. Residences range from two to four-and-a-half bedrooms, spanning roughly 2,148 to 4,216 square feet, priced from $4.5 million. A limited penthouse collection includes private pools.

Amenities include a rooftop pool and spa, pool deck with bar and cabanas, The Drawing Room clubroom, The Writer's Room, a spa with sauna and treatment rooms, fitness suite, Pilates studios, outdoor yoga terrace, restaurant, speakeasy lounge, screening room, and children's lounge with outdoor imagination garden. Services include Raffles Butler Service, 24-hour reception and valet, private elevator foyers, and secure bicycle storage.

The site previously held Bayshore Park, a 39-unit condominium built in 1967. The developers spent about $28 million on the buyout, funded in part by a $28.2 million BridgeInvest loan arranged by Berkadia. Sales are expected to launch in fall 2026 through Douglas Elliman Development Marketing. Construction is expected to begin in 2027. The property fronts Biscayne Bay across from Monty's and the marina.